Here is an all important question for home buyers: “Can you afford that real estate loan”?

It is more important than ever to make sure you can afford the loan before you buy your home.

The real estate market seems to be stabilizing and in order to sustain a successful positive trend in the housing market it is important that home buyers purchase real estate that they can afford.  The rule of thumb is that a real estate loan should be no more than 25% of the borrower’s income.  Now it is more important than ever for homebuyers to buy what they can afford and not risk it all by thinking they can sell a home the home for a huge profit two years from now.  Home buyers need to stay within their means to make a real estate loan work.

With the improvement we are seeing in the High Desert and housing values appearing to be leveling out in many areas of the Country we could be ready to turn the corner.  What has fueled the improvement has been mostly more affordable home prices, low real estate loan rates and the first time home buyer tax credit (about to expire).  What fueled the demise of the real estate market were too many no document loans and people getting into homes that they couldn’t afford. Hey...There is always Las Vegas if you like to gamble!

See our blog for more posts What’s Cooking in the High Desert

For all of your High Desert Real Estate needs visit our web site.

Questions about High Desert Real Estate?

First Name* Last Name* Email* Phone Question / Comments Enter the code:    Please wait...